Wednesday, 13 December 2017

WeDoSky, Drone Data Science, solutions raises funds from Mumbai Angels Network

WeDoSky, Drone Data Science, solutions raises funds from Mumbai Angels Network
Higher in resolution than Google Earth/Maps and updated as often as daily, WeDoSky’s Drone Data Science solutions help answer the 'What' and the 'Where' for a geographical area that needs to be monitored.
WeDoSky™ is a data science company focused on generating actionable business insights using drone imagery, to assist various industries like mining, construction, energy & solar. The data extraction and analysis is done using their proprietary software ‘visualAI’™. This is also offered as a standalone SaaS platform for Drone-enabled businesses across the globe. According to PricewaterhouseCoopers, Drone data for business intelligence is a $127 bn opportunity

 WeDoSky™ counts titans like Adani Enterprises, Tata Power, Azure Power, and ACC Cement amongst its many clients. The company was established in August 2014 when the founder, Jaspreet, thought of commercializing his passion in robotics and drone building. Noting the tremendous need for drone-based data in multiple industries, the team developed the software for improved project management. Reports laud the company’s solutions to be 72x faster than conventional survey technologies as it has a million+ data points with ground resolutions much higher than anything else currently available in the market.

WeDoSky™ has now raised its first round of investment from Mumbai Angels Network, after bootstrapping for over 2 years. The funds will be used for the global expansion of ‘visualAI’™ and to integrate solutions for agriculture, infrastructure, and insurance industries after successfully assisting leading organizations in India.

Jaspreet Makkar, Founder, WeDoSky™ has been featured in "Forbes 30 under 30" under Enterprise Technology category.
Ishan Singh, Deal Lead, Mumbai Angels Network said I was impressed when I met Jaspreet in Jan 2017 and the business potential of the model was evident. After tracking his progress over the past few months, I am glad to lead the investment in this high potential company in a high growth industry. I further look forward to
welcoming the team at RevStart, the Co-Working, Incubation and Acceleration centre where I’d be able to personally oversee their growth, mentor them to achieve key milestones, along with helping the startup better market and promote its undertakings. With a strong team in place, I am positive that WeDoSky is set it to scale heights."
Jaspreet Makkar, Founder, WeDoSky, said “We are excited to be associating with leaders like Ishan Singh and Mumbai Angels Network to catapult WeDoSky's growth.. We are glad to be providing services that can eradicate inefficiency from growing sectors of Data Science and Drone imagery. We are charged to be the front-runners in initiating a change from experience driven decision making to data driven decisions“.
About Mumbai Angels Venture Mentors:
Mumbai Angels Network ( is one of India’s largest angel  investing & mentoring networks with 250+ members across four active chapters - Mumbai, Pune, Delhi and Bangalore. Their portfolio comprises of 90+ ventures across multiple sectors focused primarily on seed and early stage companies.

Wednesday, 6 December 2017

Ishan Singh, Member, Mumbai Angels Network in conversation with Sachin Karnik, President Mumbai Angels Network

Sachin Karnik :

1) Hello Ishan, Thanks for taking the time out for this Interview. You have been a Mumbai Angels Network Member for a long time and known to be a practical, tough yet reasonable , hands-on Deal Lead.Your questions during the showcase indicate the studiousness with which you approach a domain.  How has your journey been so far ?

Ishan Singh:
Hi! Sachin, Good to meet you in this forum.  I have been in this eco system for 20 years and today is as exciting as the time 20 years ago when I started my first business in 1997 in New York.

Let me share a story with you- in 1995 in my MBA entrepreneurship class I got on of the lowest grades in- partially as my profession thought ecommerce was not sustainable, but also as he righty pointed out that I had not thought through the cost of logistics and delivery. This is still the issue, so many entrepreneurs do not factor in while starting a business. 

I started a Fin tech consulting firm in New York in 1998 – that same year I invested $100,000 from profits in an online ticketing and event management firm set up by someone who worked for me and I assumed the role of interim CEO to help them raise $1m at $5m post money valuation.  Unfortunately, that company flatlined due to internal management issues that came up once the market tanked in 2000.  This was a very powerful lesson for me.

More recently, since 2015, of the 9 angel investmentsI have made, 7 are doing well and these are the ones where I was took interest in what was going on - with what the founders were doing, they key client wins, tactics being used to grow the business, plan Vs. Actual etc.This has taught me that there is a need to work closely with first time founders. 

That is why they come to seasoned investors/ business people like me to be investors & mentors. We look at the forest, not the trees and that is the value add we bring to the table.

Sachin Karnik :

2) I am sure the readers will be curious to know about the Turn-Around and growth Strategies you have recommended to Start-ups you have been a Deal Lead and Board Rep for.

Ishan Singh:

Well, hopefully we don’t need to come to a turnaround stage!

It is most important that a start-uprealises what problem they are solving and is it a problem that needs to be solved- will people pay for it- one needs to be able to demonstrate traction and revenue for that idea/ business. 

People often forget the goal at this stage of the business - it is to demonstrate that the business model is viable so that they can raise another round for expansion later.  So, focus is very important.  

Sachin Karnik :

3) Has the experience of working so closely with the Founders been enriching and rewarding for you?

Ishan Singh:

Yes, I has I love the enthusiasm and passion entrepreneurs bring to the table. Working with several at the same time allows me to leverage key learning from one to the other and this helps problem solve better – for examples best practices in social media marketing

Sachin Karnik :

4) Did interaction with other MA members help especially when Founders feel having too many Angel Investors on Cap Table is a tough act to manage?

Ishan Singh:

Sachin, the way MA invests, there is only one or two people on the board, so from the founder’s perspective he has the whole network to help, but he/ she is only interacting with one or two people daily.   So, it is not tough to manage

Sachin Karnik :

5) What kind of Start-ups or sectors will catch your attention and Investment dollars in 2018. Would you like to share a sneak preview of your investment thesis for 2018?

Ishan Singh:

My primary investment thesis remains the same. – I am looking for someone honest, sincere, and intelligent who is willing to work hard and is solving a problem.   I firmly believe, especially in the Indian context, execution is the key.

I do believe in Thematic investing- for example the investment in WE DO Sky which is a data sciencecompanyusingdrone’s is a great example of a sector with a great future.  

This year, I want to look atsustainability and use of sustainable materials in everyday use- constriction and fashion and at low cost medical devices for rural / home markets.

Sachin Karnik :

6) Any word of advice for fellow Angel Investors and Founders?

Ishan Singh:

Dream big, but keep it simple.  Keep it real and walk before you run. 

Wednesday, 25 October 2017

How does Angel Network membership benefit its members?

How does Mumbai Angels Network membership benefit its members?

The members of Mumbai Angels Network are provided with enhanced deal flow, better quality due diligence and the negotiating power of indirectly pooling capital. The group also provides a forum of fellowship of like-minded successful people. Investing in very early stage companies is inherently risky. The Mumbai Angels Network brings together successful and experienced people who by sharing their experience and vision with the other members analyze and determine potential start up companies for investment.

Develop an initial investing strategy – Early on, it is important to think through why you want to invest as an angel, what kinds of deals make your day, and how many investments you should make over time.  Seasoned Angel Investors recommends that those new to angel investing think about the kinds of companies—industry, stage, and location—they like to deal with and how much of their capital they are willing and able to put at risk.

Actively participate in Q&As –Your first chance to dive into the investment experience will likely be during the Q&A session, after entrepreneurs pitch their investments in angel group and pitch meetings. Your best way to learn and to assess the investment potential is to ask questions

When ready, write that first check – At some point, you will find a balance of feeling like you’ve learned the basics about the process and what you need to know to invest in a good deal. At this time, take the big leap of making your first investment. 

How much money do the members of the Mumbai Angels Network typically invest in companies?

A typical average ticket size is INR 3 crores/ USD 500,000 with each investing member contributing to average INR 30lacs/USD 50,000.
If the investment size is larger, the Mumbai Angels Networking may syndicate the investment with other investor groups.

Wednesday, 13 September 2017

Steps to become an Angel Investor

Why is Startup investing exciting?
It's exciting to think about all the behind the scenes work going on at a start up's end and to know you had a hand in making it happen.
It's also exciting imagining the potential sky high return on investment you could make.

Educate yourself - Angel Investing Masterclass

As angel investing has become more well-known and popular, highly experienced angels with good returns have produced a growing wealth of material to help others develop and grow their angel investing skills. Mumbai Angels Network conducts workshops and events, where you can meet seasoned angel investors, industry experts & entrepreneurs, watch StartUp pitches and get a sense of how to assess & invest in a startup.

Ask experienced Angels for advice

Asking questions provides a jump start in developing relationships and building your angel network for investing together in the future.  So it makes sense to start your journey by asking questions about being an angel.

Join an Angel Group

Join an angel group or Angel network whose members have expertise and successful track record. Trying to be a lone angel tends to further increase the risk of angel investing. The addition of multiple opinions and insights from others with varied and relevant experience can lead to higher probabilities of success
 To more about Angel Network Click Here or Join us as Angel Investor

Wednesday, 16 August 2017

The Parfait Co. raises seed investment from Mumbai Angels Network

The Parfait Co. raises seed investment from Mumbai Angels Network

The Parfait Co. (TPC) was launched in Mumbai on Oct 2014, with a menu of twelve flavours of French style parfait. Being the only brand in India and across the world to manufacture packaged French parfait they have created a unique position for themselves on supermarket freezer shelves and in the hearts of their loyalists.
French Parfait is ice cream’s fussy French cousin and TPC’s endeavor was to deliver all natural, preservative, stabilizer, emulsifier and gluten free parfait to India’s increasingly growing health conscious consumer.
Two years into the business, TPC  raised its first round of Seed investment from Mumbai Angels Network. With expansion plans to grow its brand presence in Modern Trade and General Trade stores across Mumbai and eventually pan India, TPC aims at being the go – to dessert choice for the upwardly mobile Indian consumer with a brand which is homegrown, sustainable and on par with international ice cream brands in terms of quality and price points.
Funds will be used for team building and expansion of operations and sales support along with product innovation and the launch of a smaller size SKU in order to increase our footprint across the growing Indian Modern trade and General trade retail segment.
Vikas Khemani, Deal Lead, Mumbai Angels Network
Sharmeen has created a fabulous product which is not only differentiated but also of international standard and quality. I am sure this will find huge space in the Indian dessert menu. We are excited about the product, management team and company growth.
Sharmeen Indorewala, Founder, The Parfait Co.
The Mumbai Angels Network (MA) team has been a key part of our journey when it came to aligning with the right investors and designing the pitch to get the investment required for growth at this stage. We were not only looking for funding but also investors with a keen insight into our industry who would act as mentors, and MA has achieved just that for us by bringing Vikas Khemani, our Deal lead on board.
About Mumbai Angels Venture Mentors:
Mumbai Angels Network ( is one of India’s largest angel networks with 250+ members across four active chapters - Mumbai, Pune, Delhi and Bangalore. Their portfolio comprises of 85+ ventures across multiple sectors focused primarily on seed and early stage companies.

Wednesday, 18 January 2017

Mumbai Angels Network contributes INR 3.5 Crore to a INR 4 Crore raise by Vahdam Teas.

India based Vahdam Teas raises $650,000 to create India’s first global tea brand
Mumbai Angels Network contributes INR 3.5 Crore to a INR 4 Crore raise by Vahdam Teas.

Other investors in the round include Kanwaljit Singh from Fireside Ventures and Singapore Angels

The company which is 100% online, as of today, has already shipped garden fresh Darjeeling and other teas to more than 76 countries and will use the funds to focus on marketing, product development and to open a warehouse in it's top market, USA. Vahdam teas do not travel in containers for months before being packaged and sold. All the teas are procured direct from plantations and tea growers within 24-72 hours of production, packaged garden fresh and shipped directly from source in India. By eliminating all middlemen Vahdam Teas are not only able to make available fresh high quality teas but are also able to retain all earnings in the region where these divine teas are grown and nurtured by millions of growers with immense love, care and passion.

This is a process which ultimately helps every farmer get a better price for their produce. Vahdam Teas allows tea lovers across the world to sit back and relish the satisfaction of patronising a truly ethical, fair-trade tea. 
Bala Sarda, 25, Founder, Vahdam Teas, says, “It is when I joined my family bulk export business, I realized that most of the teas being sold were reaching the consumers across the world, an average of 12 months after harvest.
More importantly, even though we grow the finest teas here in India, the absence of a home-grown brand led to a massive dependence of the entire industry on foreign brands, who quickly move to teas from other regions as soon as local farmers increase their price. It was then that I decided to take the plunge with Vahdam Teas with a clear vision of not only to re-introduce consumers across the world to real tea i.e fresh tea, but also initiate a journey to empower an entire tea industry in the long run. We really believe that a global tea brand can be the biggest success story of our Prime Minister’s ambitious ‘Make in India’ program. And we are humbled to be backed by some of the most eminent angel investors in our space, who share our vision.” 
Mr. Balvinder Kalsi, Deal Lead Mumbai Angels & Ex-President DUPONT, South Asia & ASEAN says,"India is the second largest producer of tea globally. Yet​, we ​do not have a truly Indian tea brand selling quality teas in the global markets​. ​We are very excited about what Vahdam​ ​has been able to accomplish till now and the large market opportunity in the key overseas markets. Bala with his ​industry experience has a great opportunity in this space"
Mr. Jatin Aneja, Deal Lead Mumbai Angels & Senior Partner at Shardul Amarchand Mangaldas says,  "Tea business is a good category to be in, with India being the second largest producer and supplier in the world. There is space for Indian tea brands to make a name globally. The Indian economy’s growing perception abroad coupled with a good product makes it an attractive investment proposition.
The promoter has a family heritage in the tea business and has a strong understanding of the industry. The tea industry is seeing strong growth and I believe Vahdam Teas is well positioned to be a major player in the global arena"
About Vahdam Teas

Vahdam Teas ( is established by a 4th generation tea entrepreneur, Bala Sarda, with a lineage of over 80 years in the Indian tea industry. He comes with 3 years of experience in this industry before starting Vahdam Teas.

About Mumbai Angels Venture Mentors:
Mumbai Angels Network ( is one of India’s largest angel networks with 250+ members across three active chapters - Mumbai, Delhi and Bangalore. Their portfolio comprises of 80+ ventures across multiple sectors focused primarily on seed and early stage companies.